escheatable


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es·cheat

 (ĭs-chēt′)
n.
1. Reversion of land held under feudal tenure to the manor in the absence of legal heirs or claimants.
2. Law
a. Reversion of property to the state in the absence of legal heirs or claimants.
b. Property that has reverted to the state when no legal heirs or claimants exist.
intr. & tr.v. es·cheat·ed, es·cheat·ing, es·cheats Law
To revert or cause to revert by escheat.

[Middle English eschete, from Old French (from escheoir, to fall out) and from Anglo-Latin escheta, both from Vulgar Latin *excadēre, to fall out : Latin ex-, ex- + Latin cadere, to fall; see kad- in Indo-European roots.]

es·cheat′a·ble adj.
References in periodicals archive ?
If the potential owner agrees that no liability is owed and confirms this in writing, the property is not escheatable.
A privately held company called Verus Financial, for example, is working with more than 30 state agencies to audit life insurers for escheatable funds.
Some items are so clearly escheatable that FAS 5 does not apply, since there is no contingency other than one: that the liability will not be discovered by the appropriate state officials.